Essential Characteristics to Open a Small Business
Assistant professor, Dept. of Fashion Design
KCC Women’s College (Affiliated by Khulna University)
Small Business is an integral part of the total business scene in any country. Through small in size such business activities cover almost any area of business viz. manufacturing , mining, wholesaling, retailing, service and the like. Now a days small business owners are mostly produce fashion item, they are mainly involved in different business such as: women and children clothes, accessories, jewellery, jute products, soil product, tie dye, block- batik, beauty parlor, boutiques, floral business etc.
A small business is usually organized and managed by the owned and or his family members.
Small business means the size of which is not big- the size again depends on the yardstick one uses to measure. What is small to one may be medium or even big to some others. Small business has been defined by various authors in various ways. Some such definitions are:
- A business which is independently owned and operated & not dominant in its field. – Small Business Act (SBA), 1934
- A Small business is one with fewer than 500 employees. – US Govt.
If you want to know the detail information about “How to Open a Boutique House” please visit…..
Characteristics of small business:
There are various essential characteristics of small business. By characteristics small businesses are different forms of medium and larger business organizations. The widely identified characteristics of small business may be seen as under:
- Business managed by the owner.
- Family workers and some other workers are hired.
- Mostly owner financed and limited borrowed funds are used.
- No scope for specialist service.
- Little emphasis on long term planning.
- Good relation between labor and owner.
- No or limited use of innovative production / marketing or promotion.
- Business is housed in small establishment.
- Rational cost possible to control.
- Business secrets are possible to safe.
- Main target is the local market and or limited non local market.
- Size of investment is relatively smaller.
- Quantity of sales relatively smaller.
- Unable to adopts modern technology.
- Mostly handicraft items are produce.
- Fashionable women and children dress are also produce.
- Minimum legal formalities are must be filling up to open a small business.
If you want to know the detail information about “Handicraft | The Sign of Art in Artistic Fashion of Bangladesh” please visit…..
If you open a small business in your home, with your friends and family, you must know about the characteristics of small business. It is the primary knowledge to open a small business.